Welcome to the Trader-X blog!

> TRADEthemove.com - my thoughts
> meditationSHIFT (formerly "tad")- just say "om"

Thursday, November 17, 2005

JLG - 111705; 15-minute chart




My "Chart of the Week"...so far.

1.) What did I see?
A gap up and wide range first bar. The second-fifth bars "bounce around" the upper half of the morning range (set by the first bar) - some might see a triangle formation; the sixth bar is narrow range and an inside bar, closing above the 50% mark of the morning range.
2.) What is the entry?
A break of the sixth bar high.
3.) What is the exit?
1/2 closed after $1 gain. The other 1/2 closed at the Fibonacci extension of the previous day's low to the opening range high.

No comments: